For Sale
500 Catherine Street, Ann Arbor, MI 48104
$1,350,000
MLS # 26035679 (Michigan Regional Information Center (MichRIC))
4 unitsBuilt 19100.1 acres
1 / 1
Listing Description
Opportunity to acquire a well-located multifamily investment property in the Kerrytown area of Ann Arbor. Located at 500 Catherine Street, the property consists of four residential units totaling eight beds, featuring a diverse unit mix of one one-bedroom unit, two two-bedroom units, and one three-bedroom unit. The varied layouts provide broad tenant appeal and exibility for a range of renters, including students, young professionals, and downtown residents. Positioned just minutes from the University of Michigan and downtown Ann Arbor, the property benets from strong rental demand, walkability, and proximity to Kerrytown Market, restaurants, retail, and entertainment. This is an attractive opportunity for investors seeking stable cash flow and long-term appreciation in one of Ann Arbor's most desirable rental submarkets. This property has a gross income of nearly $109,000
Source: SparkMLS
About this home
Located in Downtown Ann Arbor in Ann Arbor, this property offers 5-bath, with original construction dating to 1910.
Asking $1,350,000.
Estimated annual property tax: $18,103, or about $1,509 monthly. Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeMulti Family
Property Subtype2 to 4 Units
Bathrooms5
Lot Size0.1 acres
Year Built1910
Location
CityAnn Arbor
MunicipalityAnn Arbor
Zip Code48104
CountyWashtenaw
School DistrictAnn Arbor
Construction & Systems
ConstructionAluminum Siding, Brick
BasementFull
HeatingHot Water, Radiant
SewerPublic Sewer
UtilitiesNatural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
Sale & Financing
Listed7/12/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$18,103
Tax Year2025
Assessed Value$390,300
Parcel #09-09-29-105-025
Source: SparkMLS
Legal Description
LOT 1 MAYNARD & GRUNERS SUBDIVISION
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLHistoric District: Old Fourth Ward Historic District
Exterior changes may require Historic District Commission (HDC) approval
Source: Ann Arbor Historic District CommissionUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by George Abro
Altitude Commercial Real Estat
Frequently Asked Questions about 500 Catherine Street, Ann Arbor, MI 48104
Which school district serves 500 Catherine Street, Ann Arbor, MI 48104?
Per MLS# 26035679, 500 Catherine Street, Ann Arbor, MI 48104 is in the Ann Arbor boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Ann Arbor directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 26035679, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 500 Catherine Street, Ann Arbor, MI 48104?
Per public tax records, annual property taxes for this property are $18,103 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 500 Catherine Street, Ann Arbor, MI 48104 is in an eligible area. USDA RD loans offer 0% down payment for qualified buyers. Verify current eligibility at the USDA eligibility site, as boundaries are updated periodically.
Is 500 Catherine Street, Ann Arbor, MI 48104 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is 500 Catherine Street, Ann Arbor, MI 48104 in a historic district?
Per municipal ordinance records, this property is within the Old Fourth Ward Historic District. Exterior changes to properties in locally-designated historic districts typically require approval from the Historic District Commission. Verify current requirements with the local HDC.
What utilities serve 500 Catherine Street, Ann Arbor, MI 48104?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Sewer: Public Sewer. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Washtenaw County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
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Monthly payment$8,756
Principal & interest$8,756
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
500 Catherine Street, Ann Arbor, MI 48104
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Municipality
Downtown Ann Arbor
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County
Washtenaw County
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